Circle and Tether Freeze $318,000 in Stablecoins Linked to Bitget Exploiter Wallet

Circle and Tether blacklisted the same wallet connected to the Bitget exploit on September 25, 2026, immobilizing approximately 99,990 USDC and 218,023 USDT.

The frozen stablecoins were worth about $318,000. The action restricted the wallet’s ability to transfer those issuer-controlled tokens, but it did not affect all assets held at the address.

The wallet also contained roughly 170 ETH. Native ETH cannot be frozen by stablecoin issuers, meaning that balance remained transferable.

Separately, Bitget said attacker-controlled addresses had received assets valued at approximately $387.5 million, updating an earlier loss estimate of $351.6 million.

Two stablecoin issuers blacklisted the same address

Circle blacklisted the wallet labeled “Bitget Exploiter 8” at approximately 05:00 UTC on September 25. Tether subsequently blacklisted the same wallet.

The actions locked approximately 99,990 USDC and 218,023 USDT at that address. Together, the balances were valued at about $318,000 based on the reported amounts.

Blacklisting can prevent transfers of centrally issued stablecoins from a designated address. It does not provide equivalent control over native assets on Ethereum.

ETH balance remained outside the freeze

The affected wallet held approximately 170 ETH in addition to the stablecoin balances. That ETH remained transferable because Circle and Tether do not control Ethereum’s native asset.

The difference illustrates the limited scope of issuer-level token freezes: they can restrict USDC and USDT at an identified address, while other on-chain assets may remain accessible to the wallet controller.

For broader context on Ethereum-related security risks, see Magic Eden Warns of Exposure From Old Ethereum NFT Listings.

Bitget revises confirmed value sent to attacker-controlled addresses

Bitget confirmed that assets worth approximately $387.5 million had been transferred to attacker-controlled addresses. The figure revised the exchange’s earlier estimate of $351.6 million.

The stablecoins frozen at the identified wallet represent only a small portion of the value Bitget said was transferred to attacker-controlled addresses. The reported figures describe different stages of the incident: the revised confirmed total and the balances immobilized at one wallet.

Ethereum infrastructure remains relevant to the movement and recovery of assets in incidents such as this one. See Ethereum Foundation Sets Protocol Priorities Through 2029 for separate coverage of the network’s longer-term development plans.

Continue reading: Magic Eden Warns of Exposure From Old Ethereum NFT Listings on BTCNews.

Continue reading: Ethereum Foundation Sets Protocol Priorities Through 2029 on BTCNews.

Sources

• Decrypt: Circle and Tether Freeze Stablecoins Tied to Bitget Hack—But Most Funds Slip Away
• CoinDesk: Circle and Tether step in to freeze hacker wallet after massive Bitget crypto heist
• Bitget: Bitget Security Latest Incident Update: Fund Tracing and Recovery Bounty Program
• Etherscan: Circle USDC blacklist transaction linked to Bitget exploiter wallet
• Etherscan: Tether USDT blacklist transaction linked to Bitget exploiter wallet

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